NY A10474

Adds a third loan category called "micro seed loans" with principal amounts less than $5,000 to the small business revolving loan fund program.

Requires the corporation to set aside not less than 15% of any remaining principal or further appropriations for micro loans (starting July 1, 2012).

Requires the corporation to set aside not less than 5% of any remaining principal or further appropriations for micro seed loans (starting July 1, 2012).

In subsequent years when no remaining principal or additional appropriations exist, requires 15% of generated revenue be set aside for micro loans and 5% for micro seed loans.